Excalibur Management Corp Decreases Stake in W. P. Carey Inc. (NYSE:WPC)

Excalibur Management Corp cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,548 shares of the real estate investment trust’s stock after selling 4,662 shares during the period. Excalibur Management Corp’s holdings in W. P. Carey were worth $1,501,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in shares of W. P. Carey during the third quarter valued at approximately $218,000. Penserra Capital Management LLC grew its stake in shares of W. P. Carey by 21.0% in the third quarter. Penserra Capital Management LLC now owns 22,404 shares of the real estate investment trust’s stock worth $1,394,000 after acquiring an additional 3,884 shares during the last quarter. Truvestments Capital LLC bought a new stake in W. P. Carey during the 3rd quarter valued at about $155,000. The Manufacturers Life Insurance Company increased its holdings in shares of W. P. Carey by 12.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust’s stock worth $12,016,000 after purchasing an additional 21,563 shares in the last quarter. Finally, FMR LLC lifted its stake in W. P. Carey by 103.3% during the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after acquiring an additional 409,593 shares during the period. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WPC shares. Evercore ISI lifted their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Wells Fargo & Company upped their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Finally, BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $61.59 on Wednesday. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.06 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock’s 50-day simple moving average is $59.59 and its 200-day simple moving average is $58.37. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 5.78%. The ex-dividend date is Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 170.33%.

W. P. Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.